Government’s Spokesperson on Security and Governance, Palgrave Boakye Danquah has expressed optimism that government will finalize and meet the 80 percent threshold of the Domestic Debt Exchange Program (DDEP).
The Domestic Debt Exchange Program introduced by the government has seen more than 50 percent participation from bondholders.
According to the Finance Ministry, government aimed at 80 percent participation and with more than half of its target achieved.
” We are going to come back stronger as we did in COVID. I am confident that we recognise that close to about 50 percent of the bondholders have successfully signed onto the government’s domestic debt exchange program.
We are looking for about 80 percent. Which means that we have a window of about 30 percent. I’m confident that by Friday we will be able to reach the target,” He disclosed.
The Ministry granted a three-day deadline for bondholders to complete the process.
The Domestic Debt Exchange is to end today, February 10 at 4 pm.
The extension was given to enable those who were not able to partake in the program due to technical difficulties.
Meanwhile, Banking Consultant, Dr. Richmond Atuahene is urging government to come up with a social intervention program to cushion pension bondholders since most are categorized as vulnerable groups in society.
This intervention, according to him will lessen the impact of the debt exchange on them.
